Companhia Energetica de Minas Gerais S.A. (NYSE:CIG) shares were down 3.8% on Monday . The company traded as low as $2.76 and last traded at $2.78, with a volume of 1,766,408 shares changing hands. The stock had previously closed at $2.89.

Separately, Zacks Investment Research downgraded Companhia Energetica de Minas Gerais from a “hold” rating to a “sell” rating in a report on Friday, June 3rd.

The firm’s 50-day moving average price is $2.71 and its 200-day moving average price is $2.04. The stock has a market cap of $3.44 billion and a P/E ratio of 16.15.

Companhia Energetica de Minas Gerais CEMIG is a Brazil-based holding company mainly engaged in the generation, transmission and distribution of electricity. The Company operates through the segments: Generation, Transmission, Distribution, Telecom, Gas and Other. The Company generates electricity at approximately 78 hydroelectric plants, three thermoelectric plants and 23 wind farms.

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